Mortgage & seperation ?

suethedriver

My friend ( male) wants to leave his wife but they have a small hotel/b & b business that they work in together ( no extra staff) they have a joint mortgage on the property and business credit cards etc. If he leaves where does he stand ? Will he have to still pay half the mortgage & bills even if he isnt there ?( he has no other income) or would it be the business income that would pay it .
The wife would also need to employ someone to do his part of the work .
The property/ business is up for sale currently but these things take time.
Any advice would be helpful please.

TBagpuss

There are 2 separate relationships here.

There is the relationship between HIM+HER and THIRD PARTY, and the relatinship between him and her.

As between Him+Her and any thord party, they are jointly responsible for any debts and utgoigns, so her is still jointly responsible forthe mortgage, to the mortgage lender, whether he is in the proeprty or not.

As between him and her, then it may be reasonable for her to take responsibility depending on the over all finacial position.

It is not in the interests of either of them, or of the business, to let anything go into arrears.

Ideally, they should sit down and work out the amounts needed to cover the business costs, and the amount he would ned in order to pay rent elsewhere if he wer eto move out, and the income they will each have, and agree on how the outgoings will be paid.

It is complicated by the act that there is a business. On the face of it, it is appropriate for the costs to be paid by the business, out of gross takings, before any profit is split,. however, this assumes that the business can afford to pay these in addition to any wages.

Another factor would be whether your friend expected to continue to reciee any income from the business after separation.

It would be sensible for him to get some professional advice and, if at all possible, to discuss the situatuion with his wife